In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...

TORONTO, Nov. 8, 2012 /CNW/ - Vena Resources Inc. ("Vena" or the
"Company") (TSX: VEM, LIMA: VEM, Frankfurt: V1RA, OTC-BB: VNARF,
Xetra®: V1RA.DE), is pleased to announce that it has complied with all
the requirements set out in the share purchase agreement with Trafigura
Beheer B.V. ("Trafigura") that was announced on September 28, 2012,
including receipt of the first US$2.5 million tranche payment. The
second tranche of payments totaling an additional US$2.5 million will
begin in October 2013.

This transaction has substantially improved the Company's working
capital position. The third quarter financial statements and
management's discussion and analysis will be filed on November 15, 2012
and will reflect the positive effect of this transaction.

In accordance with the terms of the share purchase agreement and a
related assignment agreement, Trafigura has agreed to pay an aggregate
purchase price of US$5 million to Vena as well as a 10% Net Profit
Interest ("NPI") on future production, such NPI can be purchased for an
additional US$2 million at any time. The Company will not bear any
further costs in connection with the future development and operation
of Azulcocha (including previously disclosed accrued liabilities
aggregating approximately US$20 million). Vena will retain its 100%
ownership over the significant exploration areas nearby the milling
operations, where a multi-million exploration investment has already
been made.

Vena intends to continue its efforts to advance its extensive
exploration portfolio with Esquilache being the core silver development
asset. Geological campaigns, including metallurgical tests of
near-surface mineralization have already been started at Esquilache.

This news release contains forward-looking statements. These statements
involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Forward- looking statements include, but are not limited to, statements
about the timing of the receipt of regulatory and governmental
approvals for our projects; the availability of financing for the
development of our properties and planned production on reasonable
terms; the ability to complete corporate transactions; and the ability
to procure ore in sufficient quantities and on a timely basis. In some
cases, you can identify forward-looking statements by terms such as
"may", "will", "should", "could", "would", "expect", "plan",
"anticipate", "believe", "estimate", "project", "predict", "intend",
"potential", "continue" and similar expressions intended to identify
forward-looking statements. Forward-looking statements reflect our
current views with respect to future events and are based on
assumptions and subject to risks and uncertainties. Given these risks
and uncertainties, the forward-looking events and circumstances
discussed in this news release may not transpire, and you should not
place undue reliance on these forward-looking statements. We discuss
many of these risks in greater detail under the heading "Risk Factors"
current Annual Information Form and its other filings with applicable
Canadian securities regulators, which is available online at www.sedar.
Also, these forward-looking statements represent our estimates,
intentions, plans and assumptions only as of the date of this news
release. We undertake no obligation and do not intend to update or
revise these forward-looking statements, unless required by law. We
qualify all of the information presented in this release, and
particularly our forward-looking statements, with these cautionary
statements.

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